LT Foods (LTFOODS) Q4 10/11 earnings summary

Executive summary

• FY11 consolidated revenue rose 18.15% to ₹128,138.01 lacs; EBITDA fell 4.07% to ₹11,909.80 lacs and PAT after exceptional items fell 24.01% to ₹2,519.52 lacs.

• Growth initiatives broadened the business into rice-based snacks, grain storage and planned biomass power, alongside expansion of branded rice and overseas distribution.

Financial highlights

• Consolidated PBT declined 17.50% to ₹3,440.35 lacs; PAT after prior-period items was ₹2,519.52 lacs versus ₹3,315.46 lacs in FY10.

• Revenue increased 18.15% to ₹128,138.01 lacs from ₹108,449.44 lacs; EBITDA decreased 4.07% to ₹11,909.80 lacs.

• Standalone revenue rose 17.38% to ₹85,134.80 lacs; domestic sales increased 6.68% and exports 37.78%.

• Consolidated operating cash flow was negative ₹11,287.63 lacs, while financing activities generated ₹23,019.06 lacs.

Outlook and guidance

• Management expected revenue growth from added capacity and market expansion, with profitability supported by stronger brands, operating efficiencies and higher-margin snacks.

• Snacks were planned for expansion into more domestic regions and overseas markets; Middle East plans included direct distribution and a regional blending and packing unit.

• The Mandideep biomass plant was under development; upon commissioning, it was expected to reduce grid dependence and power costs, with potential CER/REC and surplus-power revenue.